Yes this is a reformatting of the game originally released in paperback by Corgi Books way back in the day.
This system is fairly simple. What I love about this game is it's tone. I think another reviewer used the expression of "dark folklore" which is apt. It is a setting where there is a lot of superstition and fear of the unknown. Good set of monsters (you get more with the Bestiary). If you are looking for a lowish magic setting rules lite system, you could a lot worse than Dragon Warriors

Dragon Warriors is a joy: a slick, fun system and a vivid fantasy world that keeps drawing me back, year after year. This gorgeous and long-awaited new edition is a rare second chance to get in on the best-kept secret in gaming.

I'm a long time fan of Dragon Warriors from the days of the original Corgi paperbacks in the 1980's. This consolidated, streamlined edition is a wonderful addition to any gamer's library. In terms of system complexity, it's best described as occupying the space between Red Box D&D and AD&D and is very much a child of that era. That said, I have no hesitation in recommending this game for new players or casual gamers who want to go old school without a lot of number crunching. The default setting, The Lands of Legend, is the real motor under the hood of Dragon Warriors; being one of the earliest "dark folklore" settings to go back to the source material rather then sword and sorcery. TV shows like "Robin of Sherwood" and movies like "The Wicker Man" clearly informed the writers and give the game a robust, earthy feel.
Highly recommended.